Market Newsdesk

ROCHELLE PARK, N.J., Aug. 18, 2021 (GLOBE NEWSWIRE) — ORBCOMM Inc. (Nasdaq: ORBC), a global provider of Internet of Things (IoT) solutions, today announced that its heavy equipment monitoring solution has received the required certifications to operate in China. ACloud, a leading provider of SIM connectivity services, IoT PaaS solutions and related professional services based in Shanghai, China, served as ORBCOMM’s local agent to facilitate the extensive certification process.

By ensuring its robust solution is compliant with Chinese regulations, ORBCOMM is now able to distribute its PT 7000 heavy equipment telematics device and FleetEdge software platform to customers in China looking to track and monitor their machines and other industrial equipment. The ruggedized PT 7000 is designed to track heavy equipment and construction assets in the most demanding environments, providing a comprehensive telematics solution, including 4G LTE cellular with 3G/2G fallback, CAN bus monitoring, multiple digital and analog inputs and outputs along with battery backup, enabling service for up to a month when disconnected from power. ORBCOMM’s FleetEdge is a powerful cloud application used by some of the world’s leading heavy equipment OEMs to have complete visibility and control of their fleets, maximize operational efficiency and plan preventive maintenance on accurate usage data such as engine hours and automatic service alerts for a wide variety of machinery.

“ORBCOMM is pleased to announce our heavy equipment monitoring solution is now available in China, bringing the benefits of our best-in-class IoT technology along with our long-time industry expertise to a much broader customer base in a high-growth market,” said Jon Harden, ORBCOMM’s Vice President and General Manager of OEM Solution Sales. “We look forward to engaging with customers in China and helping them enhance operational efficiency, optimize asset utilization and improve maintenance effectiveness and performance across their machinery fleets.”

For more information about ORBCOMM’s heavy equipment telematics solutions, please visit https://www.orbcomm.com/en/industries/heavy-equipment

About ORBCOMM Inc.
ORBCOMM (Nasdaq: ORBC) is a global leader and innovator in the industrial Internet of Things, providing solutions that connect businesses to their assets to deliver increased visibility and operational efficiency. The company offers a broad set of asset monitoring and control solutions, including seamless satellite and cellular connectivity, unique hardware and powerful applications, all backed by end-to-end customer support, from installation to deployment to customer care. ORBCOMM has a diverse customer base including premier OEMs, solutions customers and channel partners spanning transportation, supply chain, warehousing and inventory, heavy equipment, maritime, natural resources, and government. For more information, visit www.orbcomm.com. You can also connect with ORBCOMM at https://blog.orbcomm.com, on Twitter at @ORBCOMM_Inc, at https://www.linkedin.com/company/orbcomm or at https://www.youtube.com/c/ORBCOMM_Inc.

Forward-Looking Statements

Certain statements discussed in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally relate to our plans, objectives and expectations for future events and include statements about our expectations, beliefs, plans, objectives, intentions, assumptions and other statements that are not historical facts. Such forward-looking statements, including those concerning the Company’s expectations, are subject to known and unknown risks and uncertainties, which could cause actual results to differ materially from the results, projected, expected or implied by the forward-looking statements, some of which are beyond the Company’s control, that may cause the Company’s actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. In addition, specific consideration should be given to various factors described in Part I, Item 1A. “Risk Factors” and Part II, Item 7. “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” and elsewhere in our Annual Report on Form 10-K, and other documents, on file with the Securities and Exchange Commission. The Company undertakes no obligation to publicly revise any forward-looking statements or cautionary factors, except as required by law.

ORBCOMM Contacts

For Corporate Relations:	For Trade Media:
Michelle Ferris	Sue Rutherford
Senior Director of Corporate Communications	VP of Marketing
+1 703.462.3894	+1 613.290.1169
[email protected]	[email protected]
[email protected]	[email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/459a2b1f-6eaa-4e31-a2e6-a2d4636b18a1

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/fab679f6-92aa-4ba3-aa9a-0f90698c91d2

Second Quarter 2021 Revenues Improve 44% Compared to 2020

LENEXA, Kansas, Aug. 18, 2021 (GLOBE NEWSWIRE) — Digital Ally, Inc. (Nasdaq: DGLY), which develops, manufactures, and markets advanced video recording products and other critical safety products for law enforcement, emergency management, fleet safety and event security, today announced its second quarter 2021 operating results. An investor conference call is scheduled for 11:15 a.m. EDT on Wednesday, August 18, 2021 (see details below).

Highlights for the second quarter ended June 30, 2021

●	Total revenues increased 44% the second quarter 2021 to $2,493,671 from $1,732,192 in the comparable 2020 period. The primary reason for the overall revenue increase is an increase of $665,751 (63%), in product revenues, along with an increase in service and other revenue of $95,728 (14%), from 2020 levels. Product revenues experienced a significant increase during the three months ended June 30, 2021 in comparison to the same period in 2020, due to revenues generated by the Company’s EVO-HD, DVM-800 and FirstVu HD product lines. Service and other revenues also increased over the prior period due to slowly diminishing impacts of the COVID-19 pandemic, as travel restrictions have begun to ease, after previously adversely affecting many of our commercial customers in particular the cruise ship industry. Additionally, the restoration of public events has been slower than anticipated, thus adversely affecting our installation and situational security revenues. Lastly, the Company’s subscription plan model continues to gain traction in the marketplace, resulting in the Company building and recognizing its recurring revenues.
●	The Company added two new lines of branded products in 2020 which continue to have positive effects on revenues in 2021: (1) the ThermoVu® which is a line of self-contained temperature monitoring systems that provides alerts and controls facility access when an individual’s temperature exceeds a pre-set threshold and (2) our Shield™ disinfectants and cleansers which are for use against viruses and bacteria. We began offering such products beginning late in the second quarter 2020 and experienced strong demand. Shield™ disinfectants has been listed on the United States Environmental Protection Agency’s List N: Disinfectants for Use Against SARS-CoV-2, the virus that causes COVID-19. We expect continued revenues from these two new product lines in future quarters as the economy continues to battle uncertainties surrounding the COVID-19 pandemic. The Company has also begun expanding the ShieldTM brand with additional products to complement these new safety product lines. These branded products are being offered to our first responder customers including police, fire, and paramedics. Commercial customers such as schools, cruise lines, taxicab, and para transit are natural users for the products, which the Company is actively pursuing.
●	Our overall gross margin percentage increased to 51% in the second quarter 2021 compared to 23% in 2020. The increase is commensurate with the increase in product and service revenues during the three months ended June 30, 2021 compared to the same period in 2020. Additionally, an expansion in the overall sales mix represented by the higher margin items such as, the new EVO in-car systems, service sales, ThermoVu™, and Shield™ product sales during the quarter gave way to increase gross margins. Our goal continues to improve our margins to 60% over the longer term based on the expected margins of our EVO-HD, DVM-800, VuLink, FirstVu HD, ThermoVuTM, ShieldTM disinfectants and our cloud evidence storage and management offering as they gain traction in the marketplace; however, still subject to a normalizing economy in the wake of the COVID-19 pandemic.
●	Selling, general and administrative expenses were $3,877,684 and $2,535,912 for the second quarter 2021 and 2020, respectively, an increase of $1,341,772 (53%). The increase was attributable to a large increase in insurance premiums for general liability and related coverages that are generally the impact of COVID-19 on such coverages, an increase in travel expenses as COVID-19 restrictions begin to ease, increased promotional and advertising expenses, along with increased legal and acquisition-related expenses for the quarter ended June 30, 2021.
●	On April 30, 2021, the Company closed on the purchase and sale agreement to acquire a 71,361 square foot building located in Lenexa, Kansas, which is intended to serve as the Company’s future headquarters office and warehouse needs. The building contains approximately 30,000 square foot of office space and the remainder warehouse space. The total purchase price is approximately $5.3 million, the Company funded the purchase price with cash on hand, without the need for external debt or other financing.
●	On June 4, 2021, Digital Ally Healthcare, Inc. a wholly-owned subsidiary of the Company, entered into a venture with Nobility LLC (“Nobility”), an eight-year old revenue cycle management (“RCM”) company servicing the medical industry, to form Nobility Healthcare, LLC (“Nobility Healthcare”). Furthermore, on June 30, 2021, Nobility Healthcare completed its first acquisition when it purchased 100% of the capital stock of Elite Medical Billing Specialists, Inc, a Michigan limited liability company (“Elite”).
●	During the first quarter of 2021, the Company issued detachable warrants to purchase a total of 42,500,000 shares of Common Stock in association with the two underwritten public offerings previously described. The underlying warrant agreement terms provide for net cash settlement outside the control of the Company in the event of tender offers under certain circumstances. As such, the Company is required to treat these warrants as derivative liabilities which are valued at their estimated fair value at their issuance date and at each reporting date with any subsequent changes reported in the consolidated statements of operations as the change in fair value of warrant derivative liabilities. The change in fair value from March 31, 2021 to June 30, 2021 totaled $2,863,422 which was recognized as a loss in the second quarter of 2021.
●	The COVID-19 pandemic represents a fluid situation that presents a wide range of potential impacts of varying durations for different global geographies, including locations where we have offices, employees, customers, vendors and other suppliers and business partners. Like most US-based businesses, the COVID-19 pandemic and efforts to mitigate the same began to have impacts on our business in March 2020. During 2020, and continuing into the first quarter of 2021, the Company observed decreases in demand from certain customers, including primarily our law enforcement and commercial customers. However, the Company is beginning to experience an increase in demand for certain products and services during the three months ended June 30, 2021, compared to the same period in 2020. The Company continues to monitor the implications of the COVID-19 pandemic and is assessing management decisions accordingly.

Recent Developments

Letter of Intent to acquire a Medical Billing Company.
On May 21, 2021, the Company’s healthcare subsidiary entered a letter of intent to acquire 100% of the capital stock of a medical billing company located in the Midwest for a total purchase price of $2,750,000 (the “Target”). The purchase price includes $2.1 million in cash at closing and a $650,000 contingent consideration promissory note bearing interest at 3% per annum subject to adjustment based on revenues achieved over an approximate 18-month period after closing. The letter of intent is subject to satisfactory completion of due diligence as well as a satisfactory review of legal, financial, tax and other matters concerning the Target’s business. The letter of intent is also not binding until the parties mutually agree to the terms of the underlying definitive agreements including the receipt of all approvals and consents considered necessary by both parties. The parties are currently negotiating the final definitive agreements and anticipate a closing date on or around August 31, 2021. However, there can be no assurances that the parties will complete the acquisition of the Target and on what terms will be included in the final definitive agreements.

Management Comments

Stanton E. Ross, Chief Executive Officer of Digital Ally, stated, “We are very pleased to report a 44% increase in total revenues for the second quarter of 2021 as compared to 2020. Importantly, we were able to report improvements in revenue and gross margin regardless of the challenges to our legacy business caused by the COVID-19 pandemic during 2021 and 2020. Additionally, if you back out the non-cash charge related to the change in fair value of the warrant derivative liability, our earnings per share were ($0.05) for the three months ended June 30, 2021, that we are unfortunately hindered by this quarter in comparison to the first quarter of 2021. We continue to stand behind our decision not to stand still during the COVID-19 pandemic and to use our legacy distribution network to proactively expand our product offerings to include the ThermoVu and Shield lines. This decision has helped us weather the Covid storm and has helped us continue to generate revenues and opportunities during the second quarter of 2021 beyond our historical product line. We’re confident further expansion of the ThermoVu and Shield product lines to include complementary products, services, and other offerings will achieve similar market acceptance. The Shield line is also seeing increased market demand outside of COVID-19 response, with applications in general human, animal and plant wellness.”

Added Ross: “We completed the purchase of a building that is in excess of 71,000 square feet, which will allow us to continue to expand and also provide more opportunity for our officing needs. Additionally, we are excited about the new Digital Ally Healthcare venture, and the formation of Nobility Healthcare, LLC which completed its first acquisition on June 30, 2021 and is on track to close a second acquisition during the third quarter. The second acquisition of a medical billing company demonstrates our roll-up strategy is attractive to potential targets. We look forward to seeing the growth potential of this venture come to fruition and continue for the remainder of 2021 and beyond. We continue to have substantial liquid resources available to us that will enable us to pursue organic expansion of our legacy business as well as potential acquisitions. As discussed, we have already put these resources to work and plan to continue pursuing and reviewing several opportunities; however, we are proceeding cautiously given the current environment and future uncertainties. We will inform our investors as we attempt to take advantage of new business opportunities and to expand our existing business lines to benefit the Company and its shareholders for 2021 and beyond”.

Second Quarter 2021 Operating Results

For the second quarter 2021, our total revenue increased by 44% to $2,493,671, compared with revenue of $1,732,192 for the second quarter 2020.

Gross profit increased 221% to $1,260,800 for the second quarter 2021 versus $392,758 in 2020. Our gross margin increase is commensurate with the increase in product and service revenues during the three months ended June 30, 2021 compared to the same period in 2020.

Selling, General and Administrative (“SG&A”) expenses increased approximately 53% to $3,877,684 in the second quarter 2021 versus $2,535,912 in 2020. The increase was primarily attributable to a large increase in insurance premiums for general liability and related coverages that are generally the impact of COVID-19 on such coverages. In addition, our travel expenses increased for the second quarter 2021 as compared to 2020, as COVID-19 restrictions begin to ease. Additionally, increases in promotional and advertising expenses for the second quarter 2021 contributed to the increase, along with increased legal and acquisition -related expenses associated with the Elite transaction in the second quarter 2021 in comparison to 2020.

We reported an operating loss of $2,616,884 for the second quarter 2021, compared to an operating loss of $2,143,154 in 2020. Operating loss as a percentage of revenues bettered to 105% in the three months ended June 30, 2021 from 124% in the same period in 2020.

During the first quarter of 2021, the Company issued detachable warrants to purchase a total of 42,500,000 shares of Common Stock in association with the two underwritten public offerings completed in the first quarter of 2021. The underlying warrant agreement terms provide for net cash settlement outside the control of the Company under certain circumstances in the event of tender offers. As such, the Company is required to treat these warrants as derivative liabilities which are valued at their estimated fair value at their issuance date and at each reporting date with any subsequent changes reported in the consolidated statements of operations as the change in fair value of warrant derivative liabilities. The change in fair value from March 31, 2021 to June 30, 2021 was $2,863,422, which was recognized as a loss in the Statement of Operations for the second quarter ended June 30, 2021.

We reported a net loss of $5,382,487, or ($0.10) per share, in the second quarter ended June 30, 2021 compared to a prior-year net loss of $497,894 or ($0.03) per share. No income tax provision or benefit was recorded in the either 2021 or 2020 as the Company has maintained a full valuation reserve on its deferred tax assets.

Investor Conference Call

The Company will host an investor conference call at 11:15 a.m. EDT on Wednesday, August 18, 2021, to discuss its operating results for the second quarter 2021, developments related to its disinfectant and safety products, the impact of the COVID-19 pandemic and other topics of interest. Shareholders and other interested parties may participate in the conference call by dialing 844-761-0863 and entering conference ID# 1285925 a few minutes before 11:15 a.m. EDT on Wednesday, August 18, 2021.

A replay of the conference call will be available two hours after its completion, from August 18, 2021 until 11:59 p.m. on October 18, 2021 by dialing 855-859-2056 and entering the conference ID # 1285925.

Follow additional Digital Ally Inc. social media channels here:

Facebook | Instagram | LinkedIn | Twitter

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. These forward-looking statements are based largely on the expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the control of management.
Therefore, actual results could differ materially from the forward-looking statements contained in this press release. A wide variety of factors that may cause actual results to differ from the forward-looking statements include, but are not limited to, the following: whether the Company will be able to successfully identify and execute on opportunities to expand its current business lines and/or new acquisition targets and that it will be successful in integrating such new businesses in order to generate profits for the Company; whether the Company will be able to improve its revenue and operating results, especially in light of the adverse effects of the Covid-19 pandemic on our customers, suppliers and employees; whether it will be able to resolve its liquidity and operational issues given the impact of the Covid-19 pandemic; whether it will be able to achieve improved production and other efficiencies to restore its gross and operating margins in the future; whether the Company will be able to continue to expand into non-law enforcement markets, including disinfectant/sanitizer and temperature screening products, and increase its service based revenue; whether the Company has resolved its product quality and supply chain issues; whether the EVO-HD will help the Company increase its product revenues; whether the Company will continue to experience declines in legal expenses as a result of concluding its patent litigation; whether and the extent to which the US Patent and Trademark Office (USPTO) rulings will curtail, eliminate or otherwise have an effect on the actions of competitors and others in the marketplace respecting the Company, its products and customers; its ability to deliver its newer product offerings as scheduled, and in particular the new EVO-HD product platform, obtain the required components and products on a timely basis, and have them perform as planned; its ability to maintain or expand its share of the markets in which it competes, including those outside the law enforcement industry; whether it will be able to adapt its technology to new and different uses, including being able to introduce new products; competition from larger, more established companies with far greater economic and human resources; its ability to attract and retain customers and quality employees; the effect of changing economic conditions; and changes in government regulations, tax rates and similar matters. These cautionary statements should not be construed as exhaustive or as any admission as to the adequacy of the Company’s disclosures. The Company cannot predict or determine after the fact what factors would cause actual results to differ materially from those indicated by the forward-looking statements or other statements. The reader should consider statements that include the words “believes,” “expects,” “anticipates,” “intends,” “estimates,” “plans,” “projects,” “should,” or other expressions that are predictions of or indicate future events or trends, to be uncertain and forward-looking. It does not undertake to publicly update or revise forward-looking statements, whether because of new information, future events or otherwise. Additional information respecting factors that could materially affect the Company and its operations are contained in its Annual Report on Form 10-Q for the three months ended June 31, 2021 and in its annual report on Form 10-K for the year ended December 31, 2020, filed with the Securities and Exchange Commission (the “SEC”).

For Additional Information, Please Contact:

Stanton E. Ross, CEO

Thomas J. Heckman, CFO

(913) 814-7774

(Financial Highlights Follow)

DIGITAL ALLY, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

JUNE 30, 2021 AND DECEMBER 31, 2020

		June 30, 2021 (Unaudited)				December 31, 2020
Assets
Current assets:
Cash and cash equivalents		$	58,276,178			$	4,361,758
Accounts receivable-trade, less allowance for doubtful accounts of $123,224 – June 30, 2021 and 2020			888,384				1,705,461
Other Receivables			1,795,547				1,529,920
Inventories, net			9,615,759				8,202,274
Income tax refund receivable, current			—				—
Prepaid expenses			2,421,777				2,030,693
Total current assets			72,997,645				17,830,106
Property, plant and equipment, net			6,024,184				666,800
Intangible assets, net			1,583,576				392,564
Operating lease right of use assets, net			722,843				753,175
Other assets			1,770,887				1,154,881
Total assets		$	83,099,135			$	20,797,527
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable		$	674,380			$	1,144,675
Accrued expenses			875,311				796,094
Current portion of operating lease obligations			123,355				113,484
Contract liabilities-current			1,515,138				1,647,469
Subordinated notes payable – current portion			72,502				11,727
Warrant derivative liabilities			29,527,224				—
Income taxes payable			—				7,158
Total current liabilities			32,787,910				3,720,606
Long-term liabilities:
Subordinated notes payable – long term			427,498				148,273
Operating lease obligation, long term			672,216				723,272
Contract liabilities-long term			2,504,715				1,848,869
Total liabilities			36,392,339				6,441,021
Commitments and contingencies
Stockholders’ Equity:
Common stock, $0.001 par value per share; 100,000,000 shares authorized; shares issued: 51,577,209 – June 30, 2021 and 26,834,709 – December 31, 2020			51,577				26,835
Additional paid in capital			122,487,573				106,501,396
Treasury stock, at cost (63,518 shares)			(2,157,226	)			(2,157,225	)
Accumulated deficit			(73,675,129	)			(90,014,500	)
Total stockholders’ equity			46,706,795				14,356,506
Total liabilities and stockholders’ equity		$	83,099,135			$	20,797,527

(FOR ADDITIONAL INFORMATION, PLEASE REFER TO THE COMPANY’S QUARTERLY REPORT ON FORM 10-Q FOR THE THREE MONTHS ENDED JUNE 30, 2021 FILED WITH THE SEC)

DIGITAL ALLY, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

FOR THE THREE AND SIX MONTHS ENDED

JUNE 30, 2021 AND 2020

(unaudited)

		Three months ended June 30,								Six months ended June 30,
		2021				2020				2021				2020
Revenue:
Product		$	1,719,332			$	1,053,581			$	3,631,910			$	2,820,116
Service and other			774,339				678,611				1,397,591				1,337,820
Total revenue			2,493,671				1,732,192				5,029,501				4,157,936
Cost of revenue:
Product		$	1,017,659			$	1,165,528			$	2,578,969			$	2,154,774
Service and other			215,212				173,906				377,849				345,374
Total cost of revenue			1,232,871				1,339,434				2,956,818				2,500,148
Gross profit			1,260,800				392,758				2,072,683				1,657,788
Selling, general and administrative expenses:
Research and development expense			460,999				359,697				909,964				845,445
Selling, advertising and promotional expense			870,183				486,649				1,466,938				1,169,030
General and administrative expense			2,546,502				1,689,566				5,178,359				3,713,832
Total selling, general and administrative expenses			3,877,684				2,535,912				7,555,261				5,728,307
Operating income (loss)			(2,616,884	)			(2,143,154	)			(5,482,578	)			(4,070,519	)
Other income (expense)
Interest income			90,774				15,609				132,461				21,869
Interest expense			(1,365	)			(25,636	)			(2,793	)			(333,196	)
Secured convertible notes issuance expense			—				(34,906	)			—				(34,906	)
Gain on extinguishment of debt			10,000				—				10,000				—
Change in fair value of secured convertible notes			—				(887,807	)			—				(1,300,252	)
Change in fair value of proceeds investment agreement			—				2,578,000				—				2,885,000
Change in fair value of short-term investments			(1,590	)			—				(6,554	)			—
Change in fair value of warrant derivative liabilities			(2,863,422	)			—				21,688,835				—
Total other income (expense)			(2,765,603	)			1,645,260				21,821,949				1,238,515
Income (loss) before income tax benefit			(5,382,487	)			(497,894	)			16,339,371				(2,832,004	)
Income tax benefit			—				—				—				—
Net income (loss)		$	(5,382,487	)		$	(497,894	)		$	16,339,371			$	(2,832,004	)
Net loss per share information:
Basic		$	(0.10	)		$	(0.03	)		$	0.34			$	(0.17	)
Diluted		$	(0.10	)		$	(0.03	)		$	0.34			$	(0.17	)
Weighted average shares outstanding:
Basic			51,513,691				18,976,724				48,177,399				16,430,214
Diluted			51,513,691				18,976,724				48,177,399				16,430,214

(FOR ADDITIONAL INFORMATION, PLEASE REFER TO THE COMPANY’S QUARTERLY REPORT ON FORM 10-Q FOR THE THREE MONTHS ENDED JUNE 30, 2021 FILED WITH THE SEC)

ALHAMBRA, CA, Aug. 18, 2021 (GLOBE NEWSWIRE) — EMCORE Corporation (Nasdaq: EMKR), a leading provider of advanced mixed-signal products that serve the aerospace & defense and broadband communications markets, announced today that its Chief Scientist, Sergey Zotov, Ph.D. will present a talk on Compact, Short-Term Navigation Grade Quartz MEMS (Micro-Electromechanical Systems) Inertial Measurement Units (IMU) at the Joint Navigation Conference (JNC) Thursday, August 26 at 10:50 a.m. Session C7, Ballroom D at the Northern Kentucky Convention Center.

The presentation will discuss how EMCORE’s technical breakthroughs in gyroscope and accelerometer inertial technology and advancements in key performance parameters have created new possibilities for Quartz MEMS (QMEMS) IMUs for north-finding and short-term navigation grade applications, and how QMEMS outperforms silicon MEMS for autonomous device applications.

Sponsored by the Institute of Navigation (ION), the JNC (www.ion.org/jnc/index.cfm) is the largest U.S. military Positioning, Navigation, and Timing (PNT) conference of the year with joint service and government participation. The theme of this year’s conference will be Enhancing Dominance and Resilience for Warfighting and Homeland Security PNT. The event focuses on technical advances in PNT and battlefield applications of GPS, field navigation devices, warfighter PNT, and navigation warfare.

At JNC, EMCORE will showcase its comprehensive navigation & inertial sensing product line and be meeting with customers in booth #211, August 25-26. Highlights will include the SDI500 MEMS IMU, recently ranked #1 in overall accuracy in a U.S. Military-commissioned IMU trade study of 19 competing IMUs, and our new SDI170 MEMS IMU designed as a form, fit, and function upgrade for the HG1700-AG58 RLG IMU. In addition, we’ll introduce our new EMCORE-Orion™ EN-1000/2000 and EN-300 fiber optic-based IMUs that are setting new benchmarks in performance for tactical and navigation grades.

“We are continually demonstrating that our products provide higher performance with lower CSWaP than competing alternatives and are looking forward to presenting our latest product solutions at JNC this year after the event was canceled in 2020,” said Andrew Popp, Senior Director of Marketing, Aerospace & Defense for EMCORE. “We welcome a deeper engagement with technical teams around the world to explore how our current and upcoming products can quickly advance guidance, navigation, and control solutions.”

For further discussion and specifications, call +1 866-234-4976; e-mail: [email protected]; or visit us on the web: www.emcore.com/nav.

About EMCORE
EMCORE Corporation is a leading provider of advanced mixed-signal products that serve the aerospace & defense and broadband communications markets. Our best-in-class components and systems support a broad array of applications including navigation and inertial sensing, defense optoelectronics, broadband transport, 5G wireless infrastructure, optical sensing, and cloud data centers. We leverage industry-leading Quartz MEMS, Lithium Niobate, and Indium Phosphide chip-level technology to deliver state-of-the-art component and system-level products across our end-market applications. EMCORE has vertically-integrated manufacturing capability at its wafer fabrication facility in Alhambra, CA, and Quartz MEMS manufacturing facility in Concord, CA. Our manufacturing facilities maintain ISO 9001 quality management certification, and we are AS9100 aerospace quality certified at our facility in Concord. For further information about EMCORE, please visit http://www.emcore.com.

Forward-looking statements:

The information provided herein may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements include statements regarding EMCORE’s plans, strategies, business prospects, growth opportunities, changes, and trends in our business and expansion into new markets. These forward-looking statements are based on management’s current expectations, estimates, forecasts, and projections about EMCORE and are subject to risks and uncertainties that could cause actual results and events to differ materially from those stated in the forward-looking statements, including without limitation, the following: (a) uncertainties regarding the effects of the COVID-19 pandemic and the impact of measures intended to reduce its spread on our business and operations, which is evolving and beyond our control; (b) the rapidly evolving markets for EMCORE’s products and uncertainty regarding the development of these markets; (c) EMCORE’s historical dependence on sales to a limited number of customers and fluctuations in the mix of products and customers in any period; (d) delays and other difficulties in commercializing new products; (e) the failure of new products: (i) to perform as expected without material defects, (ii) to be manufactured at acceptable volumes, yields, and cost, (iii) to be qualified and accepted by our customers, and (iv) to successfully compete with products offered by our competitors; (f) uncertainties concerning the availability and cost of commodity materials and specialized product components that we do not make internally; (g) actions by competitors; and (h) other risks and uncertainties discussed under Item 1A – Risk Factors in our Annual Report on Form 10-K for the fiscal year ended September 30, 2020, as updated by our subsequent periodic reports. Forward-looking statements contained in this press release are made only as of the date hereof, and EMCORE undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.

Contact:

EMCORE Corporation

David Wojciechowski
Vice President of Sales, Marketing and Business Development
(626) 293-3715
[email protected]

Investor

Tom Minichiello
Chief Financial Officer
(626) 293-3400
[email protected]

Media

Joel Counter
Director, Corporate & Marketing Communications
(626) 999-7017
[email protected]

Seattle, Aug. 18, 2021 (GLOBE NEWSWIRE) — SAFR   from RealNetworks, Inc. (NASDAQ: RNWK), the premier facial recognition platform for live video, has signed a reseller agreement with NTT Docomo, Japan’s largest mobile carrier to offer SAFR’s world class AI-based facial recognition software. Both companies have previously worked together to implement access control and security solutions for a large facility, a hospital, and a robot. With the power of NTT Docomo’s 5G infrastructure and SAFR facial recognition, the companies plan to accelerate further enterprise security and access control deployments based on the new agreement.

SAFR’s efficient design yields high speed results enabling more simultaneous face detections over low latency 5G networks. SAFR’s small footprint also enables it to be installed on less costly edge compute platforms used for a variety of solutions including access control, watch-list based surveillance, business intelligence and demographic analysis. Age, gender, and sentiment analysis can provide real-time metrics to organizations without storing any personal identifiable information. The solution can easily be deployed as part of a multi-factor authentication solution as well as facilitate online payment processing and similar use cases.

“We are happy to have this new reseller agreement with RealNetworks,” said Hisakazu Tsuboya, SVP NTT Docomo. “It will provide new options for our customers by offering accurate, high-speed AI facial recognition capabilities in concert with our existing products to solve complex challenges for access control and surveillance while providing actionable business intelligence.”

SAFR’s computer vision code is among the smallest and most efficient offerings in the facial recognition marketplace making it easy to deploy in edge devices. SAFR’s latest version (v 3.5) supports liveness detection to prevent fraudulent access via photos and videos that might allow access on less secure systems. SAFR was chosen by NTT Docomo for its high accuracy and ability to efficiently manage access and security for Japan’s large national workforce. 

“SAFR is very pleased to announce this reseller agreement with the largest mobile service company in Japan – NTT Docomo,” said Noriaki Takamura, VP, APAC, SAFR. “This agreement will accelerate the security and access control digital transformation for enterprise customers utilizing Docomo’s high-speed, low-latency 5G network with a low-bias, proven, AI computer vision platform.”

About SAFR

SAFR from RealNetworks (https://safr.com) is a high-performance computer vision platform. With fast, accurate, low-bias face recognition and additional face- and person-based AI features, SAFR leverages the power of AI to enhance security and convenience for customers around the globe. Specializing in touchless secure access, real-time video surveillance, and digital identity authentication, SAFR is optimized to run on cameras or edge devices and can be deployed on premises, in the cloud, or with leading video management systems. SAFR is headquartered in Seattle, WA, USA with offices around the world.  

© 2021 RealNetworks and SAFR are registered trademark of RealNetworks, Inc. All other trademarks, names of actual companies and products mentioned herein are the property of their respective owners.

 

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Doug Hansel
SAFR
603-537-9248
[email protected]

GEORGE TOWN, Grand Cayman, Aug. 18, 2021 (GLOBE NEWSWIRE) — O2Micro^® International Limited (NASDAQ Global Select Market: OIIM), a global leader in the design, development and marketing of high-performance integrated circuits and solutions, today announced the grant of a patent issued to O2Micro for dual input power management method and system.

O2Micro was issued 18 claims under Japan Patent No. 6894287 on June 7, 2021, for the invention of dual input power management method and system. The invention monitors multiple power sources as regulator inputs and prioritizes some power supply input to generate regulator output to power the system.

Dr. Guoxing Li, VP of Advanced Technology, O2Micro, commented, “This invention helps prolong battery pack running times by minimizing any unnecessary power dissipation through prioritizing the power source to power the battery pack controller. This technology supports battery control management and increased running times in consumer and industrial applications including electric vehicles, bikes and scooters, uninterruptible power supplies (UPS), solar and wind storage, cordless power tools, cordless vacuum cleaners and other cordless applications for home and commercial markets.”

About O2Micro:
Founded in April 1995, O2Micro develops and markets innovative power management components for the Computer, Consumer, Industrial and Automotive markets. Products include Backlighting and Battery Management.

O2Micro, the O2Micro logo, and combinations thereof are registered trademarks of O2Micro. All other trademarks or registered trademarks are the property of their respective owners.

Contact Information:
Daniel Meyberg
O2Micro Investor Relations
[email protected]

Joe Hassett
Gregory Communications
[email protected]

FLORHAM PARK, N.J. and BEULAVILLE, N.C., Aug. 18, 2021 (GLOBE NEWSWIRE) — Conduent Incorporated (Nasdaq: CNDT), a business process services and solutions company, and Eastpointe Human Services, a North Carolina-based behavioral health managed care organization (MCO), today announced a new health plan administration services agreement that will speed Eastpointe’s transition into value-based care payment models. Under this agreement, Conduent will implement its HSP Core Claims Administration solution to help Eastpointe prepare for Day One operations under North Carolina’s Medicaid transformation initiative.

Conduent will deliver comprehensive auto-adjudication capabilities to enable Eastpointe to quickly, accurately, and automatically settle complex claims associated with value-based payment models. Among the reasons Eastpointe cited for selecting Conduent were the company’s more than 50 years of experience delivering administrative services to government health organizations and proven success with artificial intelligence applications that effectively manage per-member medical spend and complicated healthcare claims.

“Transitioning to a privatized Medicaid system demands that Eastpointe help deliver whole-person care, improve outcomes and reduce costs,” said Catherine Dalton, Eastpointe’s Chief of Business Operations. “The tools Conduent provides will help us deliver on all of these priorities.” Eastpointe serves a 10-county area, in partnership with over 600 providers, connecting a diverse and rural population with much-needed wraparound health services. The MCO recently secured a contract from the North Carolina Department of Health and Human Services (NC DHHS) to coordinate care for beneficiaries under its new Medicaid transformation program set to begin in July 2022.

“We are pleased to partner with Eastpointe to provide leading-edge claims administration technology that enables them to coordinate a broad spectrum of integrated healthcare services for their members. Our HSP solution will help Eastpointe drive efficient operations and better manage costs while maintaining the focus on high-quality health outcomes for individuals and families in the communities they serve,” said Sheila Curr, Global Head of Commercial Healthcare at Conduent.

Conduent Healthcare Payer Solutions are helping health plans reduce operational costs by as much as 30 percent as the number of Medicaid MCO, Medicare Advantage and ACA plans continues to grow. In addition to HSP Core Administration Services, the company’ comprehensive Payer Solutions portfolio includes Payment Integrity and Medical Management services. More information about Conduent Healthcare solutions can be found here.

About Eastpointe

Eastpointe is a managed care organization dedicated to working with individuals and families in eastern North Carolina who struggle with mental health, substance use disorder, and intellectual and developmental disabilities. In partnership with its providers, Eastpointe helps the uninsured and those with Medicaid access the personalized, high-quality services they need. Deeply rooted in its communities, Eastpointe proudly serves Bladen, Duplin, Edgecombe, Greene, Lenoir, Robeson, Sampson, Scotland, Wayne, and Wilson Counties. For more information, visit www.eastpointe.net.

About Conduent

Conduent delivers mission-critical services and solutions on behalf of businesses and governments – creating exceptional outcomes for its clients and the millions of people who count on them. Through process, technology, and our diverse and dedicated associates, Conduent solutions and services automate workflows, improve efficiencies, reduce costs, and enable revenue growth. It’s why most Fortune 100 companies and over 500 government entities depend on Conduent every day to manage their essential interactions and move their operations forward.

Conduent’s differentiated services and solutions improve experiences for millions of people every day, including three out of every four U.S. insured patients, 10 million employees who use its HR Services, and nearly 18 million benefits recipients. Conduent’s solutions deliver exceptional outcomes for its clients, including $16 billion in savings from medical bill review of workers compensation claims, up to 40% efficiency increase in HR operations, up to 27% reduction in government benefits costs, up to 40% improvement in finance, accounting and procurement expense, and improved customer service interaction times by up to 20% with higher end-user satisfaction. Learn more at https://www.conduent.com.

Media Contacts:

Mike Kondratick, Eastpointe, +1-703-999-2988, [email protected]
Sharon Lakes, Conduent, +1-214-592-7637, [email protected]

Investor Relations Contact:

Giles Goodburn, Conduent, +1-203-216-3546, [email protected]

Note: To receive RSS news feeds, visit www.news.conduent.com. For open commentary, industry perspectives, and views, visit http://twitter.com/Conduent, http://www.linkedin.com/company/conduent or http://www.facebook.com/Conduent.

Trademarks
Conduent is a trademark of Conduent Incorporated in the United States and/or other countries. Other names may be trademarks of their respective owners.